PNC Financial Services Group Inc. cut its stake in The Shyft Group, Inc. (NASDAQ:SHYF - Free Report) by 10.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 333,185 shares of the company's stock after selling 40,944 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.97% of The Shyft Group worth $3,912,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in shares of The Shyft Group in the 4th quarter valued at $209,000. Kirr Marbach & Co. LLC IN raised its position in shares of The Shyft Group by 32.5% in the fourth quarter. Kirr Marbach & Co. LLC IN now owns 300,901 shares of the company's stock worth $3,533,000 after acquiring an additional 73,773 shares during the period. SG Americas Securities LLC raised its position in shares of The Shyft Group by 24.3% in the fourth quarter. SG Americas Securities LLC now owns 18,274 shares of the company's stock worth $215,000 after acquiring an additional 3,575 shares during the period. JPMorgan Chase & Co. raised its position in shares of The Shyft Group by 49.9% in the third quarter. JPMorgan Chase & Co. now owns 176,601 shares of the company's stock worth $2,216,000 after acquiring an additional 58,816 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of The Shyft Group by 76.7% in the third quarter. Franklin Resources Inc. now owns 54,727 shares of the company's stock worth $669,000 after acquiring an additional 23,761 shares during the period. 85.84% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on the company. Roth Mkm reaffirmed a "buy" rating and issued a $16.00 price target on shares of The Shyft Group in a report on Tuesday, December 17th. DA Davidson raised The Shyft Group from a "neutral" rating to a "buy" rating and set a $15.00 target price for the company in a research note on Wednesday, January 15th.
Check Out Our Latest Analysis on The Shyft Group
The Shyft Group Stock Performance
NASDAQ:SHYF opened at $8.83 on Friday. The Shyft Group, Inc. has a fifty-two week low of $8.27 and a fifty-two week high of $17.56. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.16 and a current ratio of 1.82. The company has a fifty day moving average of $11.19 and a two-hundred day moving average of $12.29. The stock has a market capitalization of $308.45 million, a PE ratio of -98.10 and a beta of 1.69.
The Shyft Group (NASDAQ:SHYF - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.09). The Shyft Group had a negative net margin of 0.36% and a positive return on equity of 2.75%. The firm had revenue of $201.43 million for the quarter, compared to analyst estimates of $211.90 million. As a group, research analysts forecast that The Shyft Group, Inc. will post 0.68 earnings per share for the current fiscal year.
The Shyft Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, February 27th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.27%. The ex-dividend date is Thursday, February 27th. The Shyft Group's dividend payout ratio is currently -222.22%.
The Shyft Group Company Profile
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Free Report)
The Shyft Group, Inc engages in the manufacture and assembly of specialty vehicles for the commercial and recreational vehicle industries in the United States and internationally. It operates in two segments, Fleet Vehicles and Services, and Specialty Vehicles. The Fleet Vehicles and Services segment offers commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, laundry and linen, mobile retail, and trades and construction industries.
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